1
What's the primary reason to start with problems rather than solutions when building a startup?
A
It's easier to think of problems than solutions
B
You know there's demand before you build anything
C
Investors prefer problem-focused pitches
D
It makes your business plan look better
Starting with problems ensures you're building something people actually need. Many startups fail because they build solutions looking for problems, instead of solving real pain points.
2
In the "5 Whys" technique, what is the goal of asking "why" repeatedly?
A
To annoy the person you're interviewing
B
To prove that problems are complex
C
To move from symptoms to root causes
D
To make problems seem bigger than they are
The 5 Whys helps you dig beneath surface-level symptoms to find the underlying root cause. Often, the real business opportunity lies several levels deeper than the obvious problem.
3
What distinguishes a "must have" problem from a "nice to have" problem?
A
Must have problems affect more people
B
Must have problems are more interesting to solve
C
Must have problems are mentioned in business books
D
People are actively spending time/money trying to solve must have problems
Must have problems are ones where people are already actively searching for solutions and spending resources to address them. This indicates real pain that they'd pay to solve.
4
What question should you AVOID asking during a problem interview?
A
"Would you pay $10/month for this app?"
B
"What's the hardest part about this process?"
C
"Tell me about the last time you experienced this problem."
D
"What have you tried to solve this?"
Asking "would you pay for X?" leads to unreliable answers because people are bad at predicting their future behavior. They'll often say yes to be polite. Focus on understanding the problem, not validating your solution.
5
What does TAM stand for in market sizing?
A
Target Audience Metric
B
Total Addressable Market
C
Typical Average Marketing
D
Total Available Money
TAM (Total Addressable Market) represents the total demand for your type of solution if you had 100% market share. It's the "big picture" number that helps investors understand the opportunity size.
6
In the Jobs-to-be-Done framework, what are the three types of jobs customers hire products for?
A
Simple, Medium, Complex
B
Personal, Professional, Public
C
Functional, Emotional, Social
D
Primary, Secondary, Tertiary
Customers hire products for functional jobs (practical tasks), emotional jobs (how they want to feel), and social jobs (how they want to be perceived). The best products address all three.
7
What is a sign that someone might be an early adopter for your product?
A
They have a lot of money to spend
B
They're very popular on social media
C
They work in the tech industry
D
They've already built their own workarounds for the problem
Early adopters are people who have the problem so acutely that they've already tried to solve it themselves. They're more forgiving of imperfect products because they desperately need a solution.
8
What is a customer persona?
A
A detailed fictional character based on real customer data
B
A celebrity endorsement for your product
C
The personality of your brand
D
A customer service representative
A customer persona is a detailed description of your ideal customer—a fictional character based on real data from interviews and research. It helps you think about specific people rather than abstract "users."
9
According to the lesson, what percentage of Fortune 500 companies were founded by immigrants or their children?
A
About 20%
B
Over 40%
C
About 10%
D
Over 75%
Over 40% of Fortune 500 companies were founded by immigrants or their children. Your immigrant background gives you unique perspectives that can lead to successful businesses.
10
When validating a problem, which is a RED FLAG that suggests you should pivot?
A
People get emotional describing the problem
B
People are spending money on imperfect solutions
C
People say "I'd use it if it was free"
D
People ask when they can get your solution
"I'd use it if it was free" is a red flag because everyone likes free stuff. This doesn't validate that they'd actually pay. Real validation comes from people who are already spending money or building workarounds.
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